Can Crypto Market Predict Gold Movements?

Can Crypto Market Predict Gold Movements?

2021-09-07 • Updated

What happened?

Gold and cryptocurrencies demonstrate a correlation since 2021.  These assets have equal conjecture as both have limited emission. That fact provides these assets with a status of “haven”, which means traders prefer to purchase them during periods of high market volatility and at the moments when high inflation risks occur.

Technical examples

Ethereum, daily chart

Screenshot_9.png

As you can see Ethereum price created two minimums and the maximum at February 28, March 25, and May 12 respectively.

Gold, daily chart

XAUUSDDaily.png

Gold price drew double bottom on March 8 and March 30, approximately a week after Ethereum did. Also, it gained the highest point on June 1, approximately 2 weeks after crypto did.

Lately crypto market dropped on July 20 and Gold followed it on August 9.

At the moment, the crypto market demonstrates extreme growth. Do you have any suggestions about gold’s future? Let’s check it!

30 min, Ethereum chart

ETHUSDM30.png

30 min, gold chart

XAUUSDM30.png

TRADE NOW

Similar

What Lies Ahead for the Crypto Market?
What Lies Ahead for the Crypto Market?

Here's the latest scoop: Paul Tudor Jones, the billionaire hedge fund manager, seems concerned about Bitcoin's appeal. He believes the growing unfriendly regulatory landscape in the United States makes Bitcoin less attractive. Additionally, the prospect...

Cryptos to Recover Bull-run in May
Cryptos to Recover Bull-run in May

Bank of Indonesia Governor Perry Warjiyo announced that Jakarta is following the lead of the BRICS bloc to reduce dependence on the USD and diversify the use of currency in international trade. Indonesia is "more concrete" than the BRICS...

Is The Crypto Market Ready to Recover?
Is The Crypto Market Ready to Recover?

Recently, on the 16th of January, 2023, Thailand Securities Exchange Commission issued fresh rules in its continued efforts to protect investors' assets and build confidence in the crypto space. It comes right after Bitcoin surged above $20k. However, is this enough to kickstart a full recovery for crypto coins?

Latest news

SEC Crackdown and the future of Crypto
SEC Crackdown and the future of Crypto

Are you aware of the recent crackdown by the SEC on major cryptocurrency exchanges, Binance US and Coinbase? Surprisingly, savvy Bitcoin traders seem unfazed, as options-based implied volatility metrics indicate. It appears that the lawsuits were anticipated and already factored into the market. Implied volatility reflects investors' expectations of price turbulence, but little evidence of heightened concern exists.

US Dollar at Crucial Zone: What Next?
US Dollar at Crucial Zone: What Next?

Let's dive into the recent debt ceiling saga in the US and its implications for the economy, deficit, and inflation. The good news is that a new debt deal is on the horizon, saving us from a potential default on June 5. Phew! This deal will impact the economy by providing stability and avoiding a financial catastrophe.

CAD Outlook Ahead of BoC Overnight Rate
CAD Outlook Ahead of BoC Overnight Rate

Get ready for some suspense as the Bank of Canada faces a tough decision on whether to raise interest rates or keep them on hold. The resilient Canadian economy and the goal of curbing inflation further are at the heart of this dilemma. While some money markets and economists predict another rate hike, others believe the central bank should exercise caution and wait, hinting at a possible increase later in the summer.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera